BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2022 120 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2022 (Expressed in Barbados dollars) 89 25. Financial Risk Management, continued 25.2 Credit risk, continued The movement across ECL stages at March 31 were as follows: 2022 Stage 1 Stage 2 Stage 3 Total Expected credit loss allowance Beginning balance $ 2,316,230 1,707,452 33,668,222 37,691,904 Stage 1 to stage 2 (50,635) 47,567 - (3,068) Stage 1 to stage 3 (52,147) - 49,604 (2,543) Stage 2 to stage 1 865,871 (972,902) - (107,031) Stage 2 to stage 3 - (248,202) 237,375 (10,827) Stage 3 to stage 1 2,000,570 - (2,303,325) (302,755) Stage 3 to stage 2 - 993,096 (1,074,300) (81,204) Net ECL re-measurement (1,809,752) 1,929,656 7,916,899 8,036,803 Amount written off - - (167,198) (167,198) Ending balance $ 3,270,137 3,456,667 38,327,277 45,054,081 The movement across ECL stages at March 31 were as follows: 2021 Stage 1 Stage 2 Stage 3 Total Expected credit loss allowance Beginning balance $ 1,264,829 1,487,391 24,765,083 27,517,303 Stage 1 to stage 2 (93,362) 91,156 - (2,206) Stage 1 to stage 3 (61,297) - 60,830 (467) Stage 2 to stage 1 383,731 (438,809) - (55,078) Stage 2 to stage 3 - (599,059) 582,622 (16,437) Stage 3 to stage 1 951,933 - (1,092,985) (141,052) Stage 3 to stage 2 - 246,657 (388,517) (141,860) Net ECL re-measurement (129,604) 920,116 9,741,189 10,531,701 Ending balance $ 2,316,230 1,707,452 33,668,222 37,691,904
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